DuPont DD announced the
introduction of operating earnings as the basis for reporting results to
provide more transparency to the company's operational results and pension
costs. The company defines operating earnings (non-GAAP) as earnings from
continuing operations (GAAP) excluding significant items and non-operating
pension and other postretirement employee benefit (OPEB) costs, which are
impacted by changes in interest rates and plan returns. The pension/OPEB
service cost component is included in operating earnings as this reflects the
ongoing costs of providing postretirement benefits to the company's eligible
employees.
DuPont will begin reporting operating earnings in 2013. For the nine-month
period ended Sept. 30, 2012, non-operating pension/OPEB costs were
approximately $.36 per share on a continuing operations basis. The company
has provided additional information regarding this change in reporting as well
as a summary of operating earnings and segment earnings by quarter for 2010,
2011 and third quarter year-to-date 2012 on the DuPont Investor Center website
at www.investors.dupont.com.
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